ABSL New Fund Offer
Aditya Birla Sun Life Mutual Fund came up with a new fund offer. The name of the scheme is Aditya Birla Sun Life Banking ETF. It is an open-ended exchange-traded fund. The offer opens for subscription on 16th October and will close on 22nd October.
The asset management of Aditya Birla Sun Life is also known as Birla Sun Life AMC. It is an investment management company. The AMC is a joint venture between Aditya Birla Group and Sun Life Insurance. Its new fund offer will re-opens within 5 business days from the date of allotment.
Basic Details of Aditya Birla Sun Life Banking ETF Scheme
|Fund Name||Aditya Birla Sun Life Banking ETF|
|Fund House||ABSL Mutual Fund|
|NFO Period||October 16, 2019 – October 22, 2019|
|Benchmark||Nifty Bank TRI Index|
|Type||Open-Ended Exchange-Traded Fund|
The objective of the scheme is to provide returns, before expenses, closely correspond to the total returns of the securities as represented by the Nifty Bank Index.
The scheme is available under regular and direct plans.
During the NFO period, the minimum investment of the scheme is Rs 5000 and in multiples of Re 1 thereafter.
The offer of units of Rs 10 per unit at a premium.
As of the scheme information documents, Entry and Exit loads do not apply under the scheme.
Switch-In/Switch-Out options shall not be allowed under the scheme.
Asset Allocation Pattern
|Instruments||Normal Allocation ( % of Total Assets)||Risk Profile|
|Stocks comprising Nifty Bank Index||95 to 100%||Medium to High|
|Debt/ Money Market Instruments||0 to 5%||Low|
ABSL Banking ETF Scheme is suitable for investors who are seeking long term capital growth. The performance of the scheme will be a benchmark by Nifty Bank TRI.
Disclaimer: This post is just about the scheme information. It does not offer any advice or investment tips to investors. MF investments are set to market risk. Please consult your financial adviser before invest.